2019.12.1613:33:00UTC+00German Industrial Downturn Shows First Signs Of Ending: Ministry

Germany's economy is more or less stagnating, but there are first signs of an end to a downturn in the industry and hence, a gradual recovery of the overall economy is more likely, the German Economy Ministry said Monday.

The level of incoming factory orders and turnover figures are showing signs of stabilization, the ministry said in its monthly report. Business expectations have improved recently and exports have picked up since the middle of the year, the report added.

"All of this indicates that the industrial economy is gradually stabilizing and could even pick up slightly from the turn of the year," the ministry said.

"That said, the uncertainties remain high in view of the difficult external environment and it remains to be seen to what extent the positive signals, which are still delicate, will solidify."

The German economy grew 0.1 percent sequentially in the third quarter.

Private consumption indicators showed cautious signals at the start of the quarter, but disposable income continued to rise, the report noted. Citing the leading indicators, the ministry predicted a modest increase in unemployment due to restrictions in industry.